ION Energy provides Site Visit and Exploration Update

ION Energy provides Site Visit and Exploration Update

Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is excited to provide an extensive operational and exploration update on the heels of the site visits in Mongolia in late April, to our Baavhai Uul and Urgakh Naran projects:

  • +81,000 hectare Baavhai Uul flagship project has shown ~25% lithium anomalies thusfar, as further drilling results are pending; and

  • Results from core brine sampling are expected from our +29,000 hectare Urgakh Naran sala: sampling was collected from the surface, with five of eight Transient Electromagnetic (TEM) lines completed with 53 auger holes to a depth of 12m,2m after the water table or basement; whichever was arrived at first. Auger holes are being sampled every 2m and are bailed a minimum of twice, 24 hours after being drilled before collecting brine samples.

Following the recent site visits to the 100%-owned Baavhai Uul and Urgakh Naran projects, conducted by our CEO, Ali Haji, ION Director, Enkhtuvshin Khishigsuren, Don Hains, P.Geo, MBA, Lead Technical Advisor, and Dr. Mark King, PhD, P.Geo,ION is pleased to share that exploration programs have advanced and results from both brine collected and core samples are expected in the coming weeks.

ION's CEO, Ali Haji, commented, "I would like to thank Mark and Don for joining this strategic visit, and am excited to be building a critical Lithium supply, with these foremost global industry experts by our side. Having their on-the-ground insight was invaluable from a training perspective for our in-country exploration team, and further reinforced the potential of our highly prospective, world-class assets. We are encouraged by the prospect of Baavhai Uul's pending additional drilling results and Urgakh Naran's current sampling."

ION's technical advisor, Dr. Mark King shared his observations: "I visited Mongolia from April 19-24, 2022 for the purpose of reviewing ION's lithium brine exploration assets, located in the Gobi Desert in southern Mongolia. Though the UN site's program is at an early stage, with TEM geophysics and shallow auger sampling just under way, the geology and morphology of the property is highly prospective, with some parallels to Nevada playa basins and South American salars. It was heartening to see some artisanal salt harvesting in the surface evaporite layers, contained in the low-lying dry ponds and lakes: a good indication of brine presence.

In my first foray into Mongolia, it was evident that the jurisdiction has a very positive view of responsible mining and exploration projects. And my interaction with the in-country ION exploration crew demonstrates that Mongolia has a highly-skilled mining workforce, with well-trained geologists and hydrogeologists to support such projects. I look forward to the upcoming results from both of Ion Energy's sites."

Ion Energy looks forward to providing regular exploration program updates with the market, in the coming weeks. In the meantime, our team has prepared this video to share in the excitement of our recent visit.

Urgakh Naran

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_001.jpg

Figure 1. Aerial image of two salt flats in the Urgakh Naran Basin.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_fig2a.jpg

Figure 2. Exploration Camp at Urgakh Naran.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6906/122500_fig2.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_003.jpg

Figure 3. Natural Evaporation Ponds on one of the salt basins at Urgakh Naran.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_004.jpg

Figure 4. Brine collected on site at Urgakh Naran during site visit for assay.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_004full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_005.jpg

Figure 5. Senior Technical team: Enkhtuvshin Khishigsuren, Mark King, PhD, PGeo., and Don Hains, P.Geo, MBA with CEO, Ali Haji on site at Urgakh Naran.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_005full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_006.jpg

Figure 6. Exploration status at Urgakh Naran as at April 30, 2022.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_006full.jpg

Baavhai Uul

Results from the maiden auger exploration program have now been obtained for the entire licence. The Company looks forward to the results from the infill program. Given the scale of this licence, we are encouraged by the grades being seen in and around the White Wolf Prospect.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_007.jpg

Figure 7. Baavhai Uul results and exploration status map.

To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/6906/122500_a8b456b9e4e36ab8_007full.jpg

All technical information disclosed in this press release has been reviewed and approved by Khurelbaatar Lamzav, P.Geo., an independent consultant to the Company and a "Qualified Person" under National Instrument 43-101.

Options

The Company also announces that it has granted to certain consultants and insiders of the Company, 165,000 options an aggregate of 165,000 incentive stock options (the "Stock Options") to purchase common shares under the Company's incentive stock option plan (the "Plan"). Each Stock Option is exercisable into a common share of the Company at a price of $0.605 for a period of two years from the date of grant. The Stock Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.

About ION Energy Ltd.

ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) is committed to exploring and developing Mongolia's lithium salars. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective Lithium Brine licence in Dorngovi Province in Mongolia. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR at www.sedar.com.

For further information:

COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, +1 647-871-4571

MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, + 1 416-432-4920

Cautionary Note Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122500

News Provided by Newsfile via QuoteMedia

ION:CA
The Conversation (0)
Lithium ION Energy Announces Warrant Extension

Lithium ION Energy Announces Warrant Extension

Lithium ION Energy Ltd (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces today that it intends to extend the expiry date of an aggregate 11,500,000 outstanding common share purchase warrants of the Company (the "April Warrants") by 12 months to April 12, 2025 and an aggregate 4,000,000 outstanding common share purchase warrants of the Company (the "July Warrants" and collectively with the April Warrants, the "Warrants") by 12 months to July 20, 2025 (collectively with the extension of April Warrants, the "Extension").

The April Warrants were issued pursuant to a public offering which closed on April 13, 2021 and are set to expire on April 12, 2024. The April Warrants were issued pursuant to a warrant indenture dated April 13, 2021 between the Company and TSX Trust and each April Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.70. The July Warrants were issued pursuant to a non-brokered private placement which closed on July 20, 2023 and are set to expire on July 20, 2024. Each July Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.40.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lithium ION Energy Announces Debt Settlement and Grant of Stock Options

Lithium ION Energy Announces Debt Settlement and Grant of Stock Options

Lithium ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces that it has negotiated debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX Venture Exchange (the "TSXV"), the Company has settled an aggregate amount of $143,669 in debt, in consideration for which it will issue an aggregate of 606,675 common shares (the "Shares") of the Company at a deemed price of $0.24 per Share.

All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lithium ION Energy Shares Victory Nickel Update

Lithium ION Energy Shares Victory Nickel Update

Lithium Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4 ) ("ION" or the "Company") is pleased to announce an update on the Victory Nickel Project in Mongolia, following the exploration joint venture that was entered into with Aranjin Resources Ltd. ("Aranjin") (TSXV: ARJN), in February 2022.

HIGHLIGHTS

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

LITHIUM ion energy ltd. ("ION")
[formerly ion energy ltd. ("ION")]
BULLETIN TYPE: Name Change
BULLETIN DATE: August 30, 2023
TSX Venture Tier 2 Company

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
ION Energy Announces Corporate Update: Leadership Changes and Bliss Lake Agreement

ION Energy Announces Corporate Update: Leadership Changes and Bliss Lake Agreement

Ion Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: 5YB) ("ION" or the "Company") is pleased to announce exciting leadership changes, as the Company continues on its rapid growth trajectory.

Robert Payment will be joining the Ion Energy team as Chief Financial Officer, as a seasoned CPA with 16 years of comprehensive experience spanning finance, reporting, regulatory compliance, public company administration, equity markets, and the financing of publicly traded companies. His career commenced in public practice focusing on the audit of public resource issuers, and since 2014 he has served as a CFO and consultant to a portfolio of companies listed on both the TSX Venture Exchange and the Canadian Securities Exchange (CSE).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
AM Resources (TSXV: AMR)

AM Resources Identifies 49 New Pegmatites on its Significant Land Package in the Austrian Pegmatite Belt

AM Resources Corporation (“AM Resources” or the “Company”) (TSXV: AMR) (Frankfurt: 76A), a dynamic junior mining company focused on the exploration and development of high-potential pegmatite lithium deposits, is pleased to announce the discovery of 49 new pegmatites within an area of 12,32 km2. These pegmatites consolidate the Company’s strategic position in one of Austria’s most prospective lithium areas.

  • Recently announced 1,500 km2 land package gives AM Resources control over a large area of the Austrian Pegmatite Belt (see press release dated March 21, 2024).
  • Land package also includes the Valerie Property, where 27 pegmatites have been identified over an area of 7.2 km2, and the Emilia Property, where 22 pegmatites have been identified over an area of 5.12 km2.
  • AM Resources properties are located within a 620 km radius of 14 battery plants.

AM Resources’ 1,500 km2land package

Keep reading...Show less
Pursuit Minerals

Pilot Plant Commences First Phase of Operations

Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to provide the following update on key developments for its Lithium Carbonate Pilot Plant which has commenced the first phase of operations to produce Lithium Carbonate.

Keep reading...Show less
First Nations totem pole with mining trucks.

First Nations Engagement Key as Critical Minerals Boom Sweeps Canada

As Canada prepares to ramp up its efforts to supply the growing critical metals value chain, consulting with the country’s many First Nations communities is becoming more important than ever.

Demand for these key metals is projected to balloon over the next two decades. It is estimated that by 2050, 1.4 billion metric tons of copper will be required to facilitate electrification needs, with dozens of new mines needed.

For context, the total amount of copper mined throughout human history only tallies 700 million metric tons.

Keep reading...Show less
Nevada Sunrise Metals President and CEO Warren Stanyer.

Nevada Sunrise Metals CEO Shares 2024 Plans to Advance Gemini Lithium Project

Nevada Sunrise Metals (TSXV:NEV) President and CEO Warren Stanyer said the company's next steps at its Gemini lithium project in Nevada are to undertake further drilling, bring it to the preliminary economic assessment( PEA) stage and find the right partners to move it forward.

“We drilled five holes right into the spring of 2023. That led to the production of a NI 43-101 compliant resource of 7.1 million metric tons of lithium carbonate equivalent, which is beyond our expectations. We really didn't know what we were going to get,” he said. “The deposit is open in basically all directions. So really it's drilling more, getting to the PEA stage (and) attracting a big industry partner. Those are our goals for the project.”

Gemini has emerged as one of the world's largest lithium resources, and the fourth largest in the US, according to Stanyer. And with more drilling planned for the project, the company is preparing to finance the next steps for Gemini.

Keep reading...Show less
Galan Lithium

Galan Investor Presentation Singapore March 2024

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to present its investor presentation.

Click here for the full ASX Release

Keep reading...Show less
Lithium Universe

Extension To Share Purchase Plan

Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7") provides the following update regarding its $3.0 million Share Purchase Plan (SPP), as announced on 13 March 2024 (ASX release: LU7 Launches Share Purchase Plan).

Keep reading...Show less

Latest Press Releases

Related News

×